Kennametal Inc. (NYSE:KMT) CEO Acquires $121,400.00 in Stock

Kennametal Inc. (NYSE:KMTGet Free Report) CEO Sanjay Chowbey acquired 5,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $24.28 per share, with a total value of $121,400.00. Following the transaction, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kennametal Stock Down 1.8 %

Shares of NYSE:KMT opened at $24.41 on Friday. The company has a market capitalization of $1.92 billion, a PE ratio of 18.08, a P/E/G ratio of 2.51 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42. The company’s fifty day moving average is $24.81 and its 200-day moving average is $24.75. Kennametal Inc. has a 52 week low of $22.08 and a 52 week high of $30.60.

Kennametal (NYSE:KMTGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The firm had revenue of $515.80 million during the quarter, compared to analyst estimates of $518.50 million. During the same quarter last year, the firm earned $0.39 earnings per share. Kennametal’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Kennametal Inc. will post 1.47 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s dividend payout ratio is currently 59.26%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Barclays raised their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Finally, Loop Capital lifted their price target on shares of Kennametal from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.17.

View Our Latest Report on KMT

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Burgundy Asset Management Ltd. grew its holdings in Kennametal by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,910,370 shares of the industrial products company’s stock worth $122,465,000 after acquiring an additional 58,097 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kennametal by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,416,981 shares of the industrial products company’s stock valued at $113,914,000 after purchasing an additional 38,358 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Kennametal by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock valued at $109,371,000 after purchasing an additional 305,542 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Kennametal by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,214,902 shares of the industrial products company’s stock worth $31,332,000 after purchasing an additional 34,880 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Kennametal by 1,186.7% during the 4th quarter. Brandes Investment Partners LP now owns 890,034 shares of the industrial products company’s stock worth $22,954,000 after buying an additional 820,864 shares in the last quarter.

Kennametal Company Profile

(Get Free Report)

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.

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